Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance topic
No spam. Unsubscribe anytime.
Board authorizes reserve deposits, approves bills list of $9.43 million and insurance renewals
Summary
At its June 29 meeting the board approved the May financial reports, a bills list totaling $9,425,796.66, and a resolution authorizing potential deposits into capital, maintenance and emergency reserves (up to $6M, $900K and $250K respectively) to be funded from undesignated fund balance.
The Board approved the May 31, 2026 board secretary/treasurer reports and a bills list with check numbers and wire transfers totaling $9,425,796.66 (the agenda lists check numbers 059699 through 059964 and multiple wire transfers). The board also authorized the business administrator to make line-item transfers through the fiscal-year close and to pay bills through August 2026, subject to later board affirmation. The motion to approve finance items and addenda passed on a roll call recorded in the minutes.
On reserve policy the board authorized possible transfers from undesignated, unreserved general fund balance at June 30, 2026: a deposit not to exceed $6,000,000 into the Capital Reserve Account, not to exceed $900,000 into the Maintenance Reserve Account, and not to exceed $250,000 into the Emergency Reserve Account. The agenda notes that these expected deposits depend on the final undesignated fund balance at year-end. The administration also presented and the board approved insurance placements through the district broker for property, automobile, umbrella, workers’ compensation and cyber insurance lines.
